Bitcoin Scam in Pune: ‘Seven stars’ of GainBitcoin took home maximum money from investors

Seven top officials of GainBitcoin founded by Amit Bhardwaj were allegedly getting the maximum share of payment in their accounts from the money paid by investors. Four of them are Bhardwaj’s family members while the other three are his partners, said police a day after Bhardwaj was arrested from Delhi and brought to Pune.

Bitcoin Scam in Pune: ‘Seven stars’ of GainBitcoin took home maximum money from investors

Pune police commissioner Rashmi Shukla said that these seven people were regarded as the ‘seven stars’ of the company and the investors’ money collected during online transactions was distributed amongst them. “We have started an investigation into their online transactions and have booked them under relevant sections of the Indian Penal Code (IPC). These seven men earned the maximum money from the investors in the bitcoin scam,” she said.

Bhardwaj’s arrest came a day after the EOW arrested seven people in connection with the cryptocurrency scam. According to Rashmi Shukla, Bharadwaj had set up a multi-level marketing company and is accused of cheating investors to hand him bitcoins in the promise of higher returns. Under his scheme, investors were lured to invest one bitcoin for a ten per cent return on their investments, said crime branch officials. The contract would be valid for eighteen months. Three cases of bitcoin multi-level marketing scam have been registered in Pune; two at Nigdi and one at the Dattawadi police station.